Exhibit 11.1 The Pepsi Bottling Group, Inc. Computation of Basic and Diluted Earnings Per Share (in millions, except per share data) 12 Weeks Ended 24 Weeks Ended -------------- -------------- June 12, June 14, June 12, June 14, 2004 2003 2004 2003 ------ ------ ------ ------ Number of shares on which basic earnings per share is based: Average outstanding during period................ 258 273 259 276 Add - Incremental shares under stock compensation plans............................. 9 6 9 7 ---- ---- ---- ---- Number of shares on which diluted earnings per share is based...................... 267 279 268 283 Net earnings applicable to common shareholders ................................... $ 142 $ 131 $ 192 $ 164 Net earnings on which diluted earnings per share is based ............................. $ 142 $ 131 $ 192 $ 164 Basic earnings per share........................... $0.55 $0.48 $0.74 $0.59 Diluted earnings per share......................... $0.53 $0.47 $0.72 $0.58